Well, the Stocks and Processing Report gives us more details on how peanuts are being utilized.
According to USDA in their 10th month report, they said that raw peanuts in primary products are up an amazing 6.3 percent. That’s August through May compared to last year. Peanut usage is up; peanut butter usage is up 6.3 percent for the period.
As the market is rebounding, they said, showing a three percent increase in May. Peanut snacks usage is up 12.7 for the year after a phenomenal jump of 41 percent increase in snacks and a lot of people are snacking and making it snack. We love the fact that they’re using snacking on peanuts for peanut butter.
Peanut candy is down slightly to 1.6 but the peanut market is improving as the industry-wide campaign they held recently is bringing on more products and lots of exciting things. But overall, they’re showing peanut candy down 1.6 percent. Snack peanuts up 12.1. That’s for the 10-month period.
Peanut butter up 6.2. Overall 6.3 percent in the use of edible peanuts. In-shells were up 15 percent.
Audio Reporting by Tyron Spearman for Southeast AgNet.